The fund is expected to invest in 100 autonomous driving startups over the next three years.
China-based internet company Baidu announced a RMB10bn ($1.5bn) vehicle called Apollo Fund yesterday aimed at the autonomous driving sector.
The fund is set to back 100 self-driving car projects over the next three years. It will seek opportunities across the globe in the areas of software, hardware, vertical services and data providers.
The vehicle draws its name from Baidu’s open-source autonomous driving platform Apollo, which has attracted 70 industry partners so far, including car manufacturers such as Hyundai. Baidu announced…
